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back in washington for high level cliff's. president barack obama cut short his christmas trip in hopes of negotiating a deal with republicans and the deal was to make tax cuts for the wealthy and raising taxes among the rich. the treasury announced they will resore to using a program to help sustain their money. they will look to borrowing where the government defaults on their debt. >>> former president bush remains alert talking with medical staff. former president bush was in the hospital since last monday for complications related to bronchitis. >> we are hoping the medicine and treatments can help him turn things around. >> the former president has a high fever and is now on a liquid only diet. his former florida governor and son have all been frequent visitors. >>> they came after 14 million vehicles came. they say the value of the cars fell sharply after the recalls. a judge must still approve the settlement. >>> how are things looking tara >> so far so good, let's take a live look at the east shore freeway and traffic is moving very nicely there. folks are headed towards berkel
. i think he wants that scenario, eric. i think obama thinks going off the cliff is a win for him so he can pass the obama tax cut and say look, i'm bringing in revenue. i lowered the deficit. pass his tax cut. a win and he can blame the g.o.p. i would argue i don't think the g.o.p. had the ball on this fight. i don't think they gave it up. i don't think they had it. it's very tough for them to win against the white house like this. and a white house press corps that is not going to report anything negative against the president. >> eric: the ball is a debt ceiling. remember, all the negotiations, tell you, i'll get to greg, they have to go through the house. money negotiations go through the house. if the house says no on raising debt ceiling they can create havoc. go ahead. >> greg: i don't care anymore. >> kimberly: okay. you did last week? >> greg: as a human being in this discussion, i have already lost. both options going over the fiscal cliff and not going over the fiscal cliff are losers. that leads to a big lie. when this was made it was supposed to be bad for both sides. re
. the republicans are losing the debate on the fiscal cliff. this is obama's economy. let the president and the democrats own it and own the national debt. own the defense cut. instead, boehner and the gang allow the president to star in his own superhero film. he will cut the hawaiian vacation short and come back to save us mere mortal from the fiscal cliff. winning the optics war and winning it big. juan, how did you get the ball back from the republicans? they had it. this was obama's economy, his face calf cliff. now boehner fails on the vote and next thing you know, the ball is in your court. >> juan: i think you are right. i think boehner at the moment looking weaker. he is out of this altogether at the moment. his troops abandoned him. he is okay keeping the speaker on january 3 when the republican caucus vote but you are hearing rumors about eric cantor who is next to him launching some kind of a coop at the moment. i don't know where it goes. but it seems that he is in a position where the republicans in the senate and the white house are really the ones who will negotiate the
policy sales because of uncertainty over the fiscal cliff. president obama has cut short his vacation to help reduce the national debt. budget cuts and tax rises will start on january 1. the white house has called on republicans not to block a resolution in congress. severe weather has caused hundreds of holiday flight delays with its sweeping storm system moving east after tornadoes struck for states on christmas day. at least six people have died. >> dallas, texas, where snow is a rarity came as a christmas surprise. it turned white and the motorists struggled with slippery roads. 21 cars and fractured trailers, and eastern ohio, kentucky, and indiana. along with wind gusts of 50 kilometers an hour. the unusual winter phenomenon hit for seven states, 34 tornadoes. this one touchdown in mobile, alabama. it overturned cars and blew out windows. >> it is like this crazy wind, just the whole building is shaking. >> a caused no fatalities, but a thunderstorm fell this tree, killing a driver of this truck. and if no border was buried by an avalanche. the storm system shifts to the eastern
is back to work as the clock ticks and america gets closer to going over the fiscal cliff. president obama has also returned to washington. house members are still home for the holidays peeping >> i cannot imagine their consciences, wherever they are around the country. we are trying to get something done. >> harry reid is blaming house speaker john boehner for the stalemate and predicts new deal will happen before the end of the year. house republicans have rejected any compromise where the wealthiest americans no longer get a tax cut. others are still optimistic. >> these deals come together at the last minute. to paraphrase ronald reagan, there has got to be a pony here someplace. >> i would urge the speaker of the house to call is back in session, to do what america expects us to do -- address the challenges, find solutions. >> americans have a lot to lose without a deal. taxes would jump an average of $2,400 for families making between $50,000 and $70,000 a year. the congressional budget office predicts the nation could lose jobs. house members will be coming back to washington on sun
until the fiscal cliff. president obama catching a flight back to washington where there's doubt that a deal can get done in time. good morning, everybody, for a thursday morning. very early, 5:00 a.m. on the east coast. welcome to "early start." i'm alina cho. >> i'm drew griffin. john and zoraida are off today. it's 5:00 a.m. in the east. a deadly winter storm system slamming the northeast after hammering the nation's heartland. look at this radar, system serious snowmaker. it's packing destructive winds, six states under winter storm warnings right now. pennsylvania, new york, massachusetts, new hampshire, vermont and maine. all could see a foot of snow or more. more than 200,000 customers spanning several states already without power. 1,700 plus flights canceled yesterday. imagine that. hundreds more already taken off the board this morning. there are six deaths being blamed on the weather since tuesday and the threat hasn't passed yesterday. bonnie schneider, meteorologist checking the system from the cnn center in atlanta. first, we go to ennis standing by in miserable, sno
one is avoiding the fiscal cliff. >> unless the president obama and congress can reach a deal by the new year, tax increases and spending cuts will take deep effect. >> president obama's re-election was one of the biggest political stories of the year. >> with the first of our year enders, here's abc's karen travers. >> reporter: president obama had to overcome a well funded opponent, struggling economy and voter doubts that he had the right agenda to turn the nation around. and after a roller coaster season, he got them. mitt romney may have started off at the front runner, but to win the republican nomination, he had to fend off some feisty challengers. >> he's the worst republican in the country to put up against president obama. >> reporter: and overcome some self-inflicted wounds. after 50 primary contests, romney clenched the nomination and it was on to the general election. >> it will be a choice between -- >> two very different paths. >> reporter: their battle focused on the economy. >> we can't afford another four years like the last four years. >> we need more tax cu
to the quickly approaching fiscal cliff. tonight president obama and lawmakers are heading back to washington. but do they have enough time left to strike a deal in congressmen tray joins us. hi, tray, a pleasure to see you tonight. >> you too. merry christmas. >> merry christmas. unfortunately we still have the fiscal cliff looming over our head. a lot going on. talk about whether or not we can't get some kind of bipartisan approach. there is some kind of discussion that there might be a deal coming up. tell us what you know. >> i assure you that there will be a resolution either before the new year or shortly after the new year. that's the good news, that there will be a deal. the bad news for you and your viewers is that there won't be a solution. it will be a pan sea or some magical elixor that makes us all feel better. but shortly after we will get a letter from geithner asking us to raise the debt ceiling for the 80th time in our country's history. there will be a deal to, quote, avert the fiscal cliff. your viewers should demand more than a deal, they should demand a solution. >> do yo
for members to reconvene on sunday. we can go off the cliff. pass the obama tax cut and reinstate the sequester cuts to things like he likes like the national institute of health and cut the defense budget. put republicans in the corner to say you want to bring a bill to the floor? be my guest. am i right? >> bob: my, you are cynical. keep in mind, they said, boehner said he wants to go to the senate. under the constitution, you cannot start a bill on taxes in the senate. has to come from the house. there is a 48-hour limit because you have to have the house of representatives look at it. i think the deal is cut. they will get legislation and vote on it late monday night. >> andrea: do you think a deal is cut? i talk to people and they say no deal. >> eric: there is no deal. they are saying no deal. president obama coming back to d.c. to fix what he broke in the first place. two solid years to deal with it. this is a gimmick, the flying back from hawaii to do this. nothing going over the fiscal cliff. let the tax cut expire. come back in, offer the tax cuts for people under 250. c
around the world. president obama and congress return to work today with little progress seen on a deal to avoid the fiscal cliff as the government starts taking steps to buy more time before the u.s. hits the debt ceiling. the yen hits a two-year low against the dollar as the new japanese government battles to weaken currency. exports are rising, pushing the nikkei to its strongest gain in 20 years. .shares of toyota are heading higher after the u.s. settled a class action lawsuit. the $1 billion payment is already priced in. okay. welcome to "worldwide exchange." plenty of news to watch out of washington. all of this week, we thought it would be a quiet one. but i won't be inside the beltway if they want to get something done. the u.s. will hit the $16.4 trillion debt ceiling come monday. in a letter to congressional leaders, geithner says treasury will begin taking steps to save the government about $2 billion. geithner says it's harder to predict a time frame because the ongone fiscal cliff talks make it difficult to forecast next year's budget. among the measures treasury will take
and repairs to the street are expected to be finished sometime during the noon hour. >>> president obama called congressional leaders before he left hawaii searching for a way to avoid the "fiscal cliff." danielle nottingham is in washington where it appears little progress is being made. >> reporter: president obama and the senate cut short their holiday vacations to work out a last-minute deal to avoid the "fiscal cliff." they have less than five days to come to agreement before tax hikes and spending cuts kick in. senate majority leader harry reid has a plan to let tax cuts expire for households making more than $250,000 a year along with short-term spending cuts instead of the long-term cuts that would happen if there is nodule. >> the american people are waiting for the ball to drop but it's not going to be a good drop because americans' taxes are approaching the wrong direction. >> reporter: negotiations between president obama and house republican leaders stalled last week. the house is now leaving it up to the democratic-controlled senate to solve the problem before the new year
the fiscal cliff, president obama is cutting his hawaii vacation short, flying back to washington, uncertain what kind of deal making possibilities he will find when we will come back. republican leaders made no decision about when to call their members back nor it is clear what kind of deal, if any, they will have to vote on. a lot of digging tonight for cnn's dana bash. i understand there were no decisions out of this call, but do we have any sense of what fellow. >> rob:s are telling speaker boehner? how likely are we to see a vote in time to avoid going of the cliff? >> it really is up in the air. i'm told in part that's why house. >> rob:s didn't make a decision to bring the house back or when to do it because the ball really is in the senate's court, specifically with senate democrats. that has changed big time since a few weeks ago. at this point what they are trying to figure out is whether or not they can find enough republicans to cross party lines for what the president proposed right before he left for hawaii which is a scaled-back bill focusing on tax cuts and on what he campaig
in washington today after a short break with just days before the onset of the so-called fiscal cliff. obama and republican leaders remain at a crossroads on reaching a budget deal before the combination of spending cuts and tax hikes kicks in with the new year. on wednesday, treasury secretary timothy geithner told congress the u.s. will reach its federal borrowing limit on new year's eve, threatening the same default that was narrowly avoided last year. in a letter to lawmakers, geithner vowed to take extraordinary measures to avoid a new default but said any remedies would only be short- term. the u.s. has acknowledged for the first time a carried out a september drone strike that killed 11 people in yemen. the victims were packed into ain truck on a desert road in a town of radda when they're struck by a missile. the washington post reports the yemeni government tried to hide u.s. responsibility for the attack by taking credit for carrying it out. the yemeni government also initially claimed only militants were killed in the strike, or forced to withdraw that claim after mourners tried t
. it's an important question. let's say president obama says we're going off the fiscal cliff. we go off the cliff. tax cuts expire, sequestration, they kick it down the road. if president obama then says i'm going to put in tax cuts for anyone making under $250,000 a year. i'm going to call them obama tax cuts. will runs say no to voting for a tax cut? >> well, the interesting question is of course what this comes with. we're at the beginning of a conversation not at the end of a conversation. because we have to decide what to do withhe bush tax cuts. that's one thing. we have to dide to do -- what to do with a trillion dollar of obamacare tax increases. very few people are talking about this but there's a trillion dollars of tax increases obamand ad demonstration passed before the last eltion and 90% of those hikesere delayed until after the president got himself reelected. then we have massive spending, $8 trillion in debt that obama's running up the next decade. republicans have several tools. right now we have very well leverage in the debate over the fiscal cliff because that s
to avoid having the economy go over the fiscal cliff nears. as president obama is on his way back to washington, some lawmakers are also expected to get back to the nation's capital. >> with just five days left to reach an agreement, doubts are growing the white house and republicans can cut a deal in time. after spending part of his christmas holiday visiting troops in hawaii, president obama to resume but the talks. congressional aides said the holiday did not bring much progress and form on the initiations have yet to be scheduled. the senate is to attend the session thursday. when the house will reconvene is still uncertain. >> we were talking about the debt ceiling and it came down the 12 hour, the final few minutes before the deadline to get a full-fledged a grim past. >> some economists fear the combination of budget cuts and higher taxes could trigger another recession, as consumers cut back on spending. others said the deadline is not as firm. congress could pass a temporary measure early in the new year doubled will back any changes. political analysts warn some conseque
. >>> and now to the efforts to avoid the so-called fiscal cliff. president obama returns to washington later today and the senate is due in session, but just about everyone agrees with just five days left, the possibility for a grand bargain to avoid across-the-board tax increases and spending cuts is all but lost, and even prospects for watered down deals seems slim. tara mergener is in washington with more. tara, good morning. >> good morning, duarte. yes. hopes for legislation to avoid the fiscal cliff now turns to the senate, but white house and republicans remain far apart. senators and staffers will be filling these empty hallways today trying to work out a deal to avoid the fiscal cliff. higher taxes will give the average american about $1,500 less to spend next year, and economists believe the $110 billion spending cuts will result in more layoffs. senator harry reid has a plan to keep taxes low for everyone making less than $250,000 a year as well as short-term spending cuts until a bigger deal can be reached. >> it is going to be a patch because in four days we can't solve everythi
us about this new fiscal cliff deal that president obama has sent over to senator leaders? >> well, the power of social media to get the word out. gop sources say in the conversation with the president, he indicated that he does have a bill he would like to bring forward to the hill today. they have not seen that. it would be a package to deal with averting the fiscal cliff. we can infer from that with what the president said before he went to the family vacation in hawaii that he wanted something that would be scaled down, not a massive grand bargain that would protect the current tax rate for people who earned less than $250,000 a year or perhaps a different figure if they reached that. but trying to protect the middle class. so officials here haven't seen it yet, but this is kind of today's volley in what has been this ongoing battle. house speaker john boehner has been saying the president must act and it appears the president is prepared to do that with another offer. and senate democrats would presumably be right on board with that. hopefully we will get details sometime this
to avoid the fiscal cliff. the weather. a powerful winter storm blasting the nation as president obama and lawmakers try to get back to washington. >> all eyes turn to plan c. >> i would hope that we would have one last attempt here to do what everyone knows what needs to be done. look at the front page here. it says obama headed back to work after short vacation. >> i think the president is eager to go over the cliff for political purposes. >> if we go off the cliff unimpeded, it's a $400 billion tax hike. >> outrage after a newspaper gets its hands on the names and addresses of gun permit holders and then publishes the information online. >> the only thing that stops a bad guy with a gun is a good guy with a gun. >> isn't it possible that if we got rid of these, if we replaced them and said you can only have a magazine that carries five bullets or ten bullets, isn't it just possible that we could reduce the carnage in a situation like this? >> i don't believe that will make one difference. >> oh, my god, a tornado. >> winter weather threatening to cause major travel problems for peop
. >> the looming fiscal cliff is forcing president obama to cut short his christmas vacation. >> president obama is cutting short his christmas vacation. he is leaving hawaii tonight so that he can be back in washington when congress reconvenes tomorrow. >> laura: so we should believe that by leaving his island enclave that the president was making some big sacrifice for the country? i'm thinking washington, crossing the delaware on a bitter christmas night 1776 before going on to defeat the british in two major battles, that's sacrifice. i, for one, never understood how in good conscious any of these politicians would think about leaving town with so much riding on this cliff hanger? shouldn't they get their work done before they leave town for a break? that's what's expected for most working americans but then again washington politicians have rules of their own. people whose salaries that we pay are called public servants. meaning they verve us. not the other way around. we don't work to make their lives better. they are supposed to make ours better. the operative word here being work. so muc
information on a police involved shooting. >>> president barack obama cuts a deal about the fiscal cliff crisis, stay with us.
very much, sir. all right, you're looking live at honolulu where president obama will be president obama will be deadlock. but i it's something he said to john boehner leaving any room for compromise? if politicians don't take us over the cliff, will the unions? what the they're planning this k in from boston to houston threatening to strike you in the wallet. eric: read the headlines and they say that president is giving up his vacation takes toe a fiscal cliff deal, but is there any room for negotiation? let's talk about it a little bit. >> the president is heading back to washington to attempt a last-ditch effort with speaker boehner to forge some compromise to avert a fiscal cliff which will kick in in six days if nothing isone done. those are the headlines are we talking about is cutting his vacation short in tha and that l well and good. is there anything that can be done because they really seem to be at an impasse before christmms, the republicans in the houseors, imploded and a ve, very tight spot and i suspect if there is to be a deal it'll be a pretty on powering one fo
the fiscal cliff. happy new year. here's what you might have missed. president obama left hawaii early to get back to washington today. the senate is also coming back from christmas vacation today to work on a deal. now, sources tell us majority leader harry reid will push a scaled-back version of the fiscal cliff package that president obama laid out on friday, which moved the tax hike needle to $400,000. no word yet on when the house of representatives might come back, but democrats say the only hope we have of something getting through the house, the senate and the white house may be a very last-minute deal. cnn radio's lisa is following developments on capitol hill right now. the ball is in senate majority leader harry reid's court it would seem right now, lisa. >> that's right. harry reid and the senate seem to be the only game in town right now with the senate returning today. we also know from sources, ali, that over this christmas break there were no conversations between the president and top-level republicans. sources from both parties are telling us they are watching the senate, es
, nothing to do with the fiscal cliff, they're talking about a couple other bills. president obama back in washington d.c. spoke to all the congressional leaders, top democrats and republicans in the house and senate, no update, or signs of real progress, senior administration official says this one is up to congress to figure out. house republicans say we need the senate to act, senators say we need republicans to act. terry reed hit the floor a short while ago and said it looks like we are headed over the fiscal plan and called on the house to set -- pass the senate plan. >> i see the speaker painting the escape hatch, put the economic base in your own state as speaker of the house. million of middle-class families are nervously watching, waiting and counting down the moment until our taxes go up. >> that escape hatch would keep taxes where they are for families earning less than $250,000 a year and increase for those earning more. a response from house speaker john boehner's office, spokesperson saying harry reid should talk less and legislate more. the house has passed legislation t
you, gerri. gerri: president obama is in washington negotiating a deal to revert the fiscal cliff. the first time and there are 500 billion in tax hikes coming your way. december 31. grover norquist from the president of americans for tax reform are warning that that is only the start of our problem. >> in addition to the bush tax cuts, 500 billion-dollar tax increases, a trillion dollars in obamacare taxes, all the taxes to pay for that free health care we are supposed to get. 90% of the tax increases to pay for obamacare were convenient postponed until after obama got himself safely reelected. they begin to hit january 1 of this coming year. they are unpleasant. gerri: absolutely unpleasant. it is a disincentive to invest into work. i don't know what people are going to do down the road. now it seems that people are saying it's up to the senate. it in the senate ballpark now to do something and to get some kind of bill. will they do anything at all? >> all the focus has been on president obama and the house of representatives. the leader, speaker boehner. some of us went to publ
on the fiscal cliff stuff, president obama, rochelle, on a new poll, 54% approve of his handling of the fiscal cliff. only 26% support joan boehner. so the politics of it is not even working for them. they're purists, but they're not being practical, even politically. everyone as they don't stand for what you and i may think is the right thing. they're not even being practical about this. >> well, with taxes, it's so complicated because the republican party has basically got taxation at the heart of its ideology. so what they're almost in a position -- they've force ed ths into a corner where what they almost sl to do is let the cliff kick in so that then they can vote to go back and reinstate some tax cuts as opposed to somehow translating any kind of vote they take, you know, grover nordquist was going to stand up and say they raised taxes on the wealthy. at this point, they've got the situation so backwards, that they're going to have to let the cliff kick in. >> let me ask you this quickly. we've got some good economic news yesterday. weekly unemployment claims have fallen to the lowest si
institute --www.ncicap.org-- >> good afternoon, everyone. i am sarah caldwell. president obama and lawmakers return to washington day with just five days left to avert the fiscal cliff. all eyes will be on the senate after house republicans said it is up to senate leadership to reach a deal. daniel lee reports on the scramble to come together fast. >> president obama landing in washington late this morning. the senator replacing senator daniel in a way -- daniel in no way rode with him on air force one. >> i do not see how you can have a grand bargain involving tax reform entitlement changes in a matter of days. >> even starbucks is getting involved, right in "come together" on its cups. speaker john boehner is sitting the route out after failing to get house republicans to support his own plan. >> i think john boehner is being controlled, unfortunately, by the right wing. >> that leaves it up to majority leader harry ring in the red -- harry reid in the rest of the senate to find a solution. harry reid's plan will avoid tax creases for -- tax increases for people making too large and $50,00
with an agreement to avoid going over the fiscal cliff. president barack obama is on his way back to washington from his vacation -- he's expected to arrive in d.c. later this morning. congress is back in the nation's capitol trying to hammer out a deal. congressional officials say they don't know if any significant strides toward a compromise will take place. or going to happen before new year's and without an agreement automatic tax increases for everyone and deep spending cuts especially to defense. they go intoe penalty in 2013. the main dispute remains over taxes. who should be taxed? and when. >>> well, people may be mixed on the feelings for president obama. his wifes seems to have no problem charming the public. according to a new poll released yesterday the first lady has a 73% approval rating. secretary of state hillary clinton also pretty popular with 66% approving of her job performance. a little more than half of the people asked feel that both president obama and vice president joe biden are doing a good job. >>> just a few hours you will be able to gamble any time of the day that you
's capitol senators will meet tomorrow in ongoing effort to avoid the fiscal cliff. president obama is about to end his family vacation in hawaii and will arrive in washington early tomorrow to deal with the tax increases and spending cuts that are due to take effect next week. no official fiscal cliff negotiations between republicans and democrats have been scheduled. not a great deal of progress. >>> with the government right on the edge now of that fiscal cliff, taxpayers are facing a lot of uncertainty as we head into the new year and for many of us the usual year-end financial strategies simply may not apply this year. 7 on your side's michael finney sorts out some of the confusion. >> reporter: when it comes to year end finances the old rules may not add up this year. >> it is difficult to do any type of tax planning and advising because nobody really knows exactly what is going to happen. >> much of the uncertainty centers around whether the united states is about to fall off that a fiscal cliff. if that happens, that would mean the end of the temporary payroll tax cuts. even if that
. because president obama perfectly going over the fiscal cliff to blame republicans because he can't default on the debt. he will have to compromise between now and february. second of all the baseline gets reset if the tax cuts expire. everybody will propose a tax cut in january and right now we're fighting whether to increase taxes or not. you can see possibility of a deal seen as win-win for both sides. third, if republicans don't come up with a deal, a bad deal right now, they still have the $800 billion in revenue they put on the table from limiting deductions and loopholes that they can use to buy down rates. so i think the odds are, after january 1 we will get a deal and it will be much more favorable deal to the republican party because we'll have the leverage and president obama won't. heather: simon, basically what mark's laid out there would be more of a bunge jump over the cliff instead after nosedive, what do you think about the possibility, good thing or bad? >> i think it is going to happen whether it is good or bad. hopefully in the first week to 10 days of the new
tone for heading for the fiscal cliff in days. president obama and senators cut the christmas vacation short. the leader is happy to review what the president has in mind but to date they have not put forward a plan. late today, mcconnell expressed frustration. >> this is a conversation we should have had months ago. republicans aren't about to write a blank check or anything that senate democrats put forward just because we find ourselves at the essential. >> asked if he was going over the cliff, biden joked cliff? what cliff? this has been operated with a dictatorship of the speaker. not allowing the vast majority of the representatives to get what they want. they want them to return in case a deal is in the final hours. today, the u.s. is heading over the cliff. >> what goes away next week is the bush tax cut that they loathed since they went in place a secon decade ago. don't assume the president wants to cut a deal. he wants to see if he'll be blamed for it before they negotiate. they talk about the meeting tomorrow with the president and key congressional leaders. >> thank you. i
. president obama flying home from hawaii this morning to try and get a deal on the fiscal cliff with the deadline just five days away now, but are the two sides even talking? >>> 36 million hits and counting. the videos that made us laugh, cry and cringe in 2012. we are going to look back at four of the year's most talked about internet sensations as the stars of them join us live in the studios, thursday, december 27th, 2012. >>> from nbc news, this is "today" with matt lauer and savannah guthrie, live from studio 1a in rockefeller plaza. >>> good morning. welcome to "today" on this thursday morning. i'm savannah guthrie. >> i'm willie geist in this morning for matt. we have the party music on for a reason. it's someone's birthday in this room today. happy birthday, savannah. >> thank you. i'm getting my musical request for today. a little techovibe. >> we will have the carbon daters to take us back to the day you were born. >> do you need to tweet out my age? >> i gave some hints. >> turning 30, very excited about that. >> we'll let you have that one. >> a lot of wind in the n
the treasury and president obama have been wanting to get a debt ceiling increase along with the fiscal cliff deal i think some lawmakers will be skeptical whether next week is really the drop-dead date. adam: it sound a littleit conspiratorial perhaps. lindsey, let me go back to you. fiscal cliff will be only thing we talk about until they go over or we get a deal. what are the chances do we get a deal? will they go over? >> less hand 50% chance at best. remember the president doesn't really have any motivation to concede to a deal unless he can tell his base he was able to raise taxes on the rich. on flipside the republicans will not concede to a deal unless they were able to tell their base they were able to make a discern isable dent in spending. both side are too far apart and they're both comfortable digging in their heels and saying we'll see what happen adam: dan henninger was on the varney show this morning. do you think we'll hit recession if we go over the cliff. probably not. we'll muddle along. do you want to counter your boss? >> he would no more than i do about this. i think wh
president obama and the first lady, assuming we've all heard plenty about the fiscal cliff, walters wasted little time pivoting to more intimate territory. >> when you look at this picture, what do you think? at what point was it taken? >> i think we were campaigning in iowa. >> so, why were you hugging so hard in iowa? >> because i love my wife. >> well, and also, i hadn't seen him in a while. i mean, you know, when you're campaigning, we're two ships passing in the night, and the first time i saw him was when i walked on stage to greet him, and that's my honey giving me a hug. >> giving you hugs. >> how do you keep the fire going? >> that's a good question. >> you know, we've been married now 20 years. >> mm-hmm. >> and like every marriage, i think you have your ups and you have your downs, but if you work through the tough times, the respect and love that you feel deepens. >> and then there's a lot of laughter, you know? >> and you're funnier. >> yeah, yeah. >> everybody thinks she's pretty funny. i'm funnier than people think. >> yeah, you are. >> that may be. you may be funnier than p
. >>> now, to the fiscal cliff. still looming large as president obama returns to the white house this morning. the president cut short his christmas vacation in hawaii to get back to washington. congress will be in session today, amidst fading hope that a deal could be reached by the new year. no agreement would mean spending cuts and historic tax hikes for virtually every american. >>> officials in newtown have a message for people who want to send gifts to the grief-stricken town. please don't. they say gifts have arrived in such numbers, they overwhelmed the small community's ability to process them. a fund established after the shooting to support newtown has grown to $3.5 million. >>> meanwhile, hundreds of schoolteachers plan to attend firearms training today in salt lake city. the 200 teachers come from districts across utah. they have volunteered for the concealed weapons training. organizers say in past years, only a few dozen teachers attended the training. they're expecting an overflow crowd because of this month's tragedy in newtown, connecticut. >>> west webster volu
, the spending cuts that make up the fiscal cliff. president obama, he cut his christmas vacation short to deal with this crisis. he arrived back from hawaii just a short time ago, and the senate also returning to work today hoping to come up with some kind of agreement. but time is running out. jessica yellin, she has the latest from the white house. we've got dana bash following the developments on capitol hill. i want to start off with you, dana. what do we know about a possible compromise on the senate siepd what they might be proposed in fairly short order? >> compromise, i'm not so sure we'll see that. but i was told by a republican senator and democratic senator that the pr indicated before he left for hawaii that he, the president, is expected to send a piece of legislation up today with his scaled back tax plan. that's something that the president outlined in general terms on the friday before he left for hawaii and since then what we've been hearing from republicans, particularly mitch mcconnell's office is we can't talk about whether we can pass anything until we actually see the leg
in washington with five days to keep the country from going over the so-called fiscal cliff. president obama in d.c. a few hours ago after scrapping the rest of the holiday vacation in hawaii. before his departure, the president called all four congressional leaders, reid, mcconnell, boehner and pelosi. now fiery words after reid hit boehner with volley after volley from the senate floor earlier today. >> if we go over the cliff and it looks like that's where we're headed, mr. president, the house of representatives as we speak with four days after today aren't here with the speaker having told them they'll have 48-hours notice. i can't imagine their conscie e consciences. >> speaker boehner's office responding with a terse statement saying in part, quote, senator reid should talk less and legislate more. the house already passed legislation to avoid the entire fiscal cliff. senate democrats have not. joining me now from d.c. nbc news white house correspondent peter alexander. peter, there was word the last hour that the president may have sent some sort of deal. the white house then turnin
this is president obama leading hawaii and now everyone is going to try to reach a deal on the fiscal cliff. >> we are taking a live look here at our mt. tam cam. you can see it shaking around. my favorite shot of the morning with relatively clear conditions. we have high clouds up above but no issues with visibility. today's forecast, expect sunshine and dry and pleasant weather. we'll have some changes and introduce some showers into the forecast which could continue into saturday morning. it looks like we'll be drive by sunday. satellite and radar shows a high pressure is in control for now. we have changes to talk about in my next report. >> speaking of walking you could probably walk across the toll plaza without being hit this morning. traffic is light and no delays coming out of the macarthur maze. east bay freeways are running much lighter than usual. we're still looking at under 25 minutes drive time from the bottle to the golden gate bridge. >> a developing story and walnut creek where there is an officer involved shooting and ended with a suspect being cleat killed. will tran is live wi
, president obama will not send legislation to congress today that might avert the so-called fiscal cliff. the president pulled the plug on his holiday trip to hawaii and arrived in washington shortly after 11:00 in hopes of prodding congress to lock in taxes for all but the wealthiest 2%. so a republican source told us he would be sending legislation to capitol hill, but the white house is telling us no, that is not the case. you have the president there at the white house. you have the senate in session and they are scattered throughout the country and taxes are going up on january 1st. let's listen to harry reid. he is not happy about the house and being away. he is the top senate democrat. >> we are here in washington working. we have the house of representatives out watching movies and watching their kids play soccer and basketball and doing all kinds of things. they should be here. >> here's a reality. reid said it's beginning to look to him as though we will plunge over the cliff come tuesday. they are keeping an eye on washington to see what develops. since it looks as though we a
for the increasing wind today. >> president obama and lawmakers return to washington today with five days left to avoid the fiscal cliff. >> danielle leigh reports on the scramble to come together fast. >> as president obama leaves hawaii for washington, tension on capitol hill is on high. >> i don't see how you could handle a large plan involving tax reform in a matter of days. >> serious doubt is setting in. even starbucks is getting involved. john boehner said is sitting this round out. he failed to get enough house republicans to support his own plan just before christmas. >> i think that john boehner is being controlled unfortunately by the right wing. >> that leaves it up to harry reid and the rest of the senate to find a solution. aides say the plan would avoid tax increases and would eliminate some big spending cuts and restore unemployment benefits. >> you are likely to see a two- step process. dealing with the immediate dynamics so you can set up a situation where you can do with the larger situation. >> without a deal, bush-era tax cuts will expire on january 1. congress set up the
number one is avoiding the fiscal cliff. >> unless the president obama and congress can reach a deal by the new year, tax increases and spending cuts will automatically take effect. >> and the clock is ticking. >>> of course, when we look back at this year, president obama's re-election was one of the biggest political stories of the year. all others, you could say, they pealed in comparison. >> with the first of our year-enders, here's abc's karen travers. >> reporter: to win a second term, president obama had to overcome a well funded opponent, a struggling economy, and voters' doubts that he had the right agenda to turn the nation around. [ chanting ] >> all: four more years! >> reporter: and after a roller coaster season, he got them. mitt romney may have started off at the frontrunner, but to win the republican nomination, he had to fend off some feisty challengers. >> he's the worst republican in the country to put up against barack obama. >> the odds are very high i'm going to be the nominee. >> reporter: and overcome some self-inflicted wounds. >> i like being able to fire pe
. >> president obama's on his way to washington this morning while negotiations to avoid the fiscal cliff are still struggling for survival. >> some members of congress admit they may well go over the fiscal cliff. >> a suburban new york city newspaper's in the middle of a big controversy this morning after it put up online the names and addresses of everyone with a gun permit. >> and if you're a robber looking to burglarize a home where you might steal guns now you have a map. >> all the indicators show that the earth is warming up and that's what's driving some of this wacky weather. >> does that foreshadow then more extreme weather in the future? >> get used to it. >> police used tow trucks and the denver boot to deal with illegal parking. this is what happens when you park illegally in russia. >> a first met dustin at a party in 1968. i was his waiter. there was an instant connection when he said to me, how's the flounder? >> how's the flounder? i'm rebecca jarvis with jeff glor. charlie, gayle and norah are off. hopefully, they are sipping some nice hot coco
it pulls through. >> brand new video of president obama visiting fires one and leaving hawaii with five days until we fall off that fiscal cliff. the president is cutting his vacation short to return to the white house and try to hammer out a deal. but what will actually happen if we do go over the cliff? doug luzader is live for us with the details. >> it is not going to be pretty. on board air force one heading back to washington from a hawaii after cutting christmas short. can a cup of coffee help as far as christmas is concerned. starbucks is hoping. if you go into a starbucks you will get a message written on your coffee that says come together. this is a company trying to tell the president and lawmakers here they need to come up with some kind of agreement before they go over the fiscal cliff at the end of the year. the senate will be meeting today. this is the first time we have seen legislative business conducted in the weeks between christmas and new years since 1970. the house come back as well but nothing yet. the other thing to consider here the two key players in all of th
caught on camera what led hundreds of shoppers to stampede o >>> president obama is back in washington where the weather is just as frigid as the political climate inside. fiscal cliff talks appear to be going nowhere. the president is trying to hammer out a deal before major tax hikes and spending cuts kick in january 1st. this morning harry reid launched a scathing attack on house republicans for not returning to washington. >> i can't imagine their con chens they are out wherever -- consciences they are out wherever they are and we are trying get something done. >> newly appointed senator flew back with the president today, left governor currently will replace the late senator daniel inouye. >>> that looming fiscal cliff is having a huge effect on the stock market today. you can see the dow is down 135 points over 1%, consumer confidence very low because of concerns that fiscal cliff will cause taxes to rise for everyone if congress tpaeults to work to the. >>> former president george higgs boson bush remains in intensive care he is -- george h.w. bush remains in intensive. doctors
caught on camera what led >>> president obama is back in washington where the weather is just as frigid as the political climate inside. fiscal cliff talks appear to be going nowhere. the president is trying to hammer out a deal before major tax hikes and spending cuts kick in january 1st. this morning harry reid launched a scathing attack on house republicans for not returning to washington. >> i can't imagine their con chens they are out wherever -- consciences they are out wherever they are and we are trying get something done. >> newly appointed senator flew back with the president today, left governor currently will replace the late senator daniel inouye. >>> that looming fiscal cliff is having a huge effect on the stock market today. you can see the dow is down 135 points over 1%, consumer confidence very low because of concerns that fiscal cliff will cause taxes to rise for everyone if congress tpaeults to work to the. >>> former president george higgs boson bush remains in intensive care he is -- george h.w. bush remains in intensive. doctors suspected he would be home in time f
cliff. with just four days until the deadline can president obama and congress still pull out a deal in the nick of time? senator john hoeven of north dakota joins us to respond. >>> plus, a game-changer for the insurance industry. an auto insurer unveils new policies that charge by the mile, giving a big potential boon to drivers. can it drive the competition off the road? the ceo of metro mile is here to take the wheel. >>> and big beer companies putting beer goggles on their customers. the market for kraft beer is booming and big labels are battling to get a foothold but they may be using crafty tactics to sell you the same flat brew in different packaging. less filling tastes great. even when they say it's not it is always about money adam: before we serve you that beer let's look at the day's market headlines. stocks fell for their fourth straight session. that dour outlook on the fiscal cliff from senator harry reid sent stocks tumbling but they came off the session lows following word the house would reconvene this weekend. the dow lost 18 points. >>> jitters over the fiscal c
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